BCG = Bhen Chod Group.
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what is BCG?
Heard from grape vine so most of this or all of this could be speculation and rumor
o aiming to cut 20%, not 10% reported in press
o Jan cuts will be more MD and D and SVP
o forced cuts at every management layer in Feb and March
o all groups will be trimmed not just risk and admin roles
o BCG making the call on who is let go, direct manager not involved
o BCG being sensitive about DEI hires and m-f ratios and such
o contractors will be later in the year
The fact is, it will be mostly Directors and SVPs, but not exclusively. There will absolutely be MDs and VPs who are let go in 1st quarter. Layoffs so far have only been to EMT and two levels below, so anyone under that could be at risk.
Directors and SVPs.. I think. ICs may be safe. I see a lot of Ds that are ICs too these days.
@hki+1qcmBldI the ficticious deadlines are absolutely ridiculous. If you question the deadline there are threats of escalation. Which they do and their managers rarely respond. The army of list checkers also need to go.
This is my third firm and I’ve never seen such a chaotic circus. I honestly don’t see how they can right the ship to even be on par with peers.
@hki+1qcmBldI - agree with you 500%. Few folks are so rude.
Post ID: @bik+1qcmBldI : Same here - Citi has cultural/people issue. I realized that when I joined - heavy structure/hierarchy - people have very high self-esteem, but in reality they are mediocre at best. Everyone is obsessed with ticking boxes/keeping fictitious deadlines, not with doing things right. That is the recipe for a disaster.
I am a Director recently joined 3 years back and I am informed in hidden way. Started searching for a new role outside Citi but market is tough.
I regret for joining Citi.
Clear clue. Our director went on PTO without wishing team a happy holidays like in past years. Unusual behavior of avoidance.
Jan cuts may include managers, C14, C13, C12
You save your job if you are buttering your boss, there is no room here for talented folks
Depends on which dept you are in. Some have already cut down to SVP.
D & SVP + Contractors